Many Nigerians discover the realities of insurance only when filing a claim, often facing delays, rejected applications, or partial payouts. Industry data from the National Insurance Commission shows that over 40% of motor insurance claims between 2020 and 2022 faced disputes, many due to policyholders not understanding coverage terms. Experts at the Chartered Insurance Institute of Nigeria advise individuals to read policy documents thoroughly before purchase and keep records of all communications with insurers. Claims should be filed promptly, supported by police reports, medical records or repair estimates, depending on the incident. Customers who reported incidents within 24 hours and submitted complete documentation were more likely to receive timely settlements, according to Leadway Assurance. Some insurers now offer digital platforms to streamline claims, but low public awareness limits uptake. Consumer rights group, PRO-Nigeria, has called for clearer policy language and better customer education.
The fact that 40% of motor claims faced disputes between 2020 and 2022 exposes how little most policyholders understand about the products they pay for. It is not enough for insurers like Leadway Assurance to praise digital solutions when many customers still file claims the old-fashioned way, unprepared. For millions of Nigerians, paying for insurance feels like buying false peace of mind. Unless insurers and regulators do more to simplify policies and enforce transparency, claims will keep turning into battles.
